Stone Point Capital and GIC Pte are nearing a deal to buy retirement and savings account provider Ascensus Inc. for about $3 billion, according to people familiar with the matter.

The investment firms could announce a transaction for the company as soon as this week, said the people, who asked not to be identified because the matter isn’t public. Owned by Genstar Capital and Aquiline Capital Partners, Ascensus had been considering an initial public offering but moved toward a sale after getting strong interest from potential buyers, one of the people said.

No final decision has been made and talks could fall through, they said.

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Source: Bloomberg

By Matthew Monks